ETH is still bullish. What I see
ETH continues to trade inside a bullish trend while facing resistance at the 2300 level. While we fully expect ETH to continue to trade higher as it is in a bullish trend. There is notion of a potential reversal at this 2.3k level.
2300 is a critical demand area for ETH as the previous 3 times 2300 was test it was followed with an impulse to either 2600 or 2800.
What am I looking for? I am looking ETH to break the 2300 likely with a strong impulse or break out of the bullish trend in which I will be looking for buy setups around the 2000 or even 1700 depending on conditions.
Strategy: ETH is in a strong buying position at the moment as your potential risk is roughly 2225 and reward is 2600-2800.
Best of luck, Like/Follow for more.
2300 is a critical demand area for ETH as the previous 3 times 2300 was test it was followed with an impulse to either 2600 or 2800.
What am I looking for? I am looking ETH to break the 2300 likely with a strong impulse or break out of the bullish trend in which I will be looking for buy setups around the 2000 or even 1700 depending on conditions.
Strategy: ETH is in a strong buying position at the moment as your potential risk is roughly 2225 and reward is 2600-2800.
Best of luck, Like/Follow for more.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.